The principal cause for the occurrence of defaults In the, service of China's railway loans must be sought fu the outbreak of internecine strife extending over many years. The Outbreak of civil war is synonymous, With the occupation by the warring factions of all the railway lines within the Aghting region. Taking possession of the railway invariably meant stoppage of regulated passenger and trate; it also signified retention of all incoming reverie and, finally, the ruination of the line and its entire equipment.
Some of the railways were occu. Bled for years by an. undisciplined /soldiery, "It will therefore be understood that there were no means avallable for meeting loan payments or Interest due. Even after the removal of the military it became essential Programme that cost ro much mosey attend to renewals and 2
Text read from the printed page and cleaned; old type leaves the occasional error.